The ringgit, the national currency of Malaysia, has been on a downward trend for a long time; a trend that has in recent days accelerated.

Why? Part of the reason must be the collapse in the oil price and  of other commodities on which Malaysia relies for most of its foreign income (and its ability to balance its Budget). But the principal reason is that the country has increasingly been seen as being in the hands of a gang of corrupt poltiicians who have stolen billions of government money.

This gang, controlled by the Prime Minister, who has also taken the portfolio of Finance Minister, and who has demonstrated beyond any argument that he is a mega thief and a mega liar, have systematically stolen billions of public funds and destroyed Malaysia’s reputation for financial probity in the process.

Najib Razak can, and does, lie about almost everything. But he has no control over the foreign exchange market which makes its daily judgment on the viabiliy of the ringgit. Since Najib’s crimes began to beome public last year the ringgit has lost a quarter of its exchange value.

If that does not seem much imagine the pound sterling trading at parity with the US dollar.That is roughly the same drop. The most intriguing question must be what foreign exchange reserves does Malaysia still have and why has the ringgit not fallen further?

For the answer to that one must turn to the State Bank, the Bank Negara. Whether motivated by proper professional concerns about the falling value of the national currency or under pressure from the arch criminal Najib, the BN has been pouring its reserves of foreign currency into the market to buy,and so sustain, the ringgit.

The question must now be what reserves are left? The chances of building them back up are small given the fall in prices of Malaysian exports and once the market is sure that the ringgit is a busted flush the sell off will be sudden and irreversible. In other words the ringgit will become worth less than the cloth it is printed on and Malaysians will starve.

Only one way out of this situation presents itself. Remove the crooked regime and set to work to rebuild the national economy. Only one person can start this vital and necessary process: the Head f State who has the power to dissolve the Parliament and force fresh elections.